MIRA INFORM
REPORT
|
Report Date : |
13.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
SOLVIN SA |
|
|
|
|
Registered Office : |
310, Rue De Ransbeek, Neder-Ovr-Heembeek 2040 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
11.06.1999 |
|
|
|
|
Com. Reg. No.: |
466279394 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Wholesale of chemical products for industrial use |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
(€) 6,150,000 |
|
|
|
|
Status : |
Very Good |
|
Payment
Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Belgium |
a1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company Summary
|
company details |
|
|
Company Number |
466279394 |
|
Name |
SOLVIN SA |
|
Address |
310, RUE DE RANSBEEK, NEDER-OVR-HEEMBEEK |
|
Post Code |
2040 |
|
Telephone Number |
022642111 |
|
Fax Number |
022642810 |
|
Establishment Date |
11-06-1999 |
|
Company Status |
ACTIVE |
|
Company Type |
Limited company |
|
Number of Employees |
186 |
|
Activity Description |
Wholesale of chemical products for industrial use |
|
Activity Code |
46751 |
|
Liable For Vat |
yes |
|
Currency |
Euro (€) |
|
Latest Branch Details |
|
|
Street |
SCHELDELAAN |
|
House Number |
600 |
|
City |
ANTWERPEN |
|
Postal Code |
2040 |
|
Trade Registered Number |
350520 |
|
Trade Registered Entry Date |
01-08-2002 |
|
Contractor Details |
|
|
Registration Number |
-- |
|
Contractor Description |
-- |
|
Striking Off Date |
-- |
|
Latest Event |
|
|
Serial Number |
185857 |
|
Event Description |
Appointment |
|
Limit |
|
|
Credit Information |
|
|
Credit Limit (€) |
6,150,000 |
|
Purchase Limit (€) |
98,000,000 |
|
Industry Comparison |
|
|
Industry Average Credit Limit (€) |
175,844 |
|
Payment Expectations |
|
|
Payment Expectations |
|
|
Payment Expectation Days |
34.79 |
|
Day Sales Outstanding |
53.31 |
|
Industry Comparison |
|
|
Activity Code |
4675 |
|
Activity Description |
Wholesale of chemical products |
|
Industry Average Day Sales Outstanding |
91.67 |
|
Industry Average Payment Expectation Days |
64.84 |
|
Industry Quartile Analysis |
|
|
Payment Expectations - Lower |
44.27 |
|
Payment Expectations - Median |
65.75 |
|
Payment Expectations - Upper |
96.41 |
|
|
|
|
Day Sales Outstanding - Lower |
19.04 |
|
Day Sales Outstanding - Median |
42.61 |
|
Day Sales Outstanding - Upper |
77.49 |
|
Company Shareholder Holding |
|
|
Shareholder Detail |
|
|
Company Number |
2525661 |
|
Company Name |
SOLVIN HOLDING GMBH |
|
Address |
HANS-BOECKLER-ALLEE 20, |
|
Postal Code |
0 |
|
Country |
|
|
Share Percentage |
99.97 |
|
Annual Accounts Date |
01-12-2006 |
|
Shareholder Detail |
|
|
Company Number |
2525760 |
|
Company Name |
SOLVIN |
|
Address |
, |
|
Postal Code |
0 |
|
Country |
|
|
Share Percentage |
0.03 |
|
Annual Accounts Date |
01-12-2006 |
|
Shareholder Detail |
|
|
Company Number |
403147638 |
|
Company Name |
SOLVIC SA |
|
Address |
RUE DU PRINCE ALBERT 44, |
|
Postal Code |
1050 |
|
Country |
|
|
Share Percentage |
0.01 |
|
Annual Accounts Date |
01-12-2005 |
Company Accounts
|
Period |
|||
|
Accounts End Date |
31-12-2009 |
31-12-2008 |
31-12-2007 |
|
Currency |
EUR |
EUR |
EUR |
|
Weeks |
52 |
52 |
52 |
|
Profit & Loss |
|||
|
Turnover |
391,898,707 |
554,501,412 |
585,629,458 |
|
Total Operating Expenses |
396,635,418 |
547,700,248 |
570,590,531 |
|
Operating Result |
-4,736,711 |
6,801,164 |
15,038,927 |
|
Total Financial Income |
7,120,483 |
26,186,910 |
19,737,338 |
|
Total Financial Expenses |
5,446,885 |
13,524,231 |
11,412,618 |
|
Results on Ordinary Operations Before Tax |
-6,092,554 |
3,368,964 |
10,060,663 |
|
Taxation |
317,548 |
512,250 |
2,979,233 |
|
Results on Ordinary Operations After Tax |
-6,410,102 |
2,856,714 |
7,081,430 |
|
Extraordinary Items |
0 |
0 |
0 |
|
Net Result |
-6,410,103 |
2,856,714 |
7,081,431 |
|
Other Information |
|||
|
Dividends |
- |
2,413,031 |
6,434,749 |
|
Director Remuneration |
- |
- |
- |
|
Employee Costs |
19,589,932 |
19,598,790 |
19,285,767 |
|
- Wages & Salaries |
14,006,553 |
14,071,562 |
13,784,255 |
|
- Employee Pension Costs |
123,643 |
87,457 |
12,592 |
|
- Social Security Contributions |
5,058,781 |
5,012,637 |
4,805,127 |
|
- Other Employee Costs |
400,955 |
427,134 |
683,793 |
|
Amortization & Depreciation |
5,173,068 |
5,063,319 |
4,721,515 |
|
Balance Sheet |
|||
|
Intangible Fixed Assets |
1,213 |
5,834 |
15,875 |
|
Tangible Fixed Assets |
23,130,875 |
27,911,462 |
31,215,226 |
|
- Land And Buildings |
1,796,840 |
1,936,300 |
2,063,256 |
|
- Plant And Machinery |
20,803,181 |
24,598,749 |
28,172,068 |
|
- Other Tangible Assets |
530,854 |
1,376,413 |
979,902 |
|
Financial Fixed Assets |
684,583 |
814,583 |
944,583 |
|
Total Fixed Assets |
23,816,671 |
28,731,879 |
32,175,684 |
|
Inventories |
19,134,938 |
33,122,558 |
45,736,345 |
|
- Raw Materials & Consumables |
1,226,497 |
1,360,325 |
1,106,472 |
|
- Work in Progress |
10,770,678 |
21,673,698 |
27,822,137 |
|
- Finished Goods |
2,337,188 |
6,167,518 |
7,896,119 |
|
- Other Stocks |
4,800,575 |
3,921,017 |
8,911,617 |
|
Trade Debtors |
57,236,495 |
46,344,911 |
74,997,348 |
|
Cash |
3,064 |
95,460 |
48,682 |
|
- Miscellaneous Current Assets |
141,197,167 |
152,066,882 |
164,112,631 |
|
Total Current Assets |
223,004,775 |
238,808,413 |
292,357,004 |
|
Current Liabilities |
|||
|
- Trade Creditors |
37,809,088 |
34,343,077 |
63,461,147 |
|
- Short Term Group Loans |
182,302,593 |
204,309,925 |
0 |
|
- Other Short Term Loans |
153,759,540 |
169,552,755 |
201,738,431 |
|
- Miscellaneous Current Liabilities |
-177,838,554 |
-196,816,617 |
13,912,521 |
|
Total Current Liabilities |
196,032,667 |
211,389,140 |
279,112,099 |
|
Long Term Debts |
|||
|
- Long Term Group Loans |
11,000,000 |
11,000,000 |
0 |
|
- Other Long Term Loans |
11,000,000 |
11,000,000 |
0 |
|
- Other Long Term Liabilities |
-5,011,223 |
-6,058,954 |
5,654,168 |
|
Total Long Term Debts |
16,988,777 |
15,941,046 |
5,654,168 |
|
Shareholders Equity |
|||
|
- Issued Share Capital |
15,275,104 |
15,275,104 |
15,275,104 |
|
- Share Premium Account |
23,514,059 |
23,514,059 |
23,514,059 |
|
- Reserves |
-4,989,161 |
1,420,942 |
977,259 |
|
- Revaluation Reserve |
0 |
0 |
0 |
|
Total Shareholders Equity |
33,800,002 |
40,210,105 |
39,766,422 |
|
|
|||
|
Working Capital |
26,972,108 |
27,419,273 |
13,244,905 |
|
Net Worth |
33,798,789 |
40,204,271 |
39,750,547 |
|
Ratio Analysis |
|||
|
Trading Performance |
|||
|
Results on Ordinary Operations Before Taxation Margin |
-1.55 |
0.61 |
1.72 |
|
Return On Capital Employed |
-12 |
6 |
22.15 |
|
Return On Total Assets Employed |
-2.47 |
1.26 |
3.10 |
|
Return On Net Assets Employed |
-22.59 |
12.29 |
75.96 |
|
Sales / Net Working Capital |
14.53 |
20.22 |
44.22 |
|
Operating Efficiency |
|||
|
Stock Turnover Ratio |
4.88 |
5.97 |
7.81 |
|
Debtor Days |
53.31 |
30.51 |
46.74 |
|
Creditor Days |
34.79 |
22.89 |
40.60 |
|
Short Term Stability |
|||
|
Current Ratio |
1.14 |
1.13 |
1.05 |
|
Liquidity Ratio / Acid Ratio |
1.04 |
0.97 |
0.88 |
|
Current Debt Ratio |
5.80 |
5.26 |
7.02 |
|
Long Term Stability |
|||
|
Gearing |
1059.36 |
984.49 |
507.31 |
|
Equity In Percentage |
0.14 |
0.15 |
0.12 |
|
Total Debt Ratio |
10.59 |
9.84 |
5.07 |
Company Court Data
|
Protested Bills |
|
|
Drawee Name |
-- |
|
Drawee Address |
-- |
|
Bill Amount |
|
|
Bill Currency |
-- |
|
Maturity of Bill (month) |
|
|
Name of Drawer |
-- |
|
City of |
-- |
|
NSSO Details |
|
|
Name of Defendant |
-- |
|
Legal Form of Defendant |
-- |
|
Date of Summons |
|
|
|
-- |
|
Directors |
|
|
Company Director |
|
|
Full Name |
PIERRE TUCOULAT |
|
Birth Date |
1952-11-07 |
|
Position Description |
Managing director |
|
Address |
65 RUE DE L'AUTOMNE |
|
Country |
-- |
|
Postal Code |
1050 |
|
Birth Date |
2011-01-01 |
|
Company Director |
|
|
Full Name |
CHRISTIANE MALCORPS |
|
Birth Date |
1956-05-08 |
|
Position Description |
Director |
|
Address |
9 DE MERODESTRAAT GRIMBERGEN |
|
Country |
-- |
|
Postal Code |
1850 |
|
Birth Date |
2011-01-01 |
|
Company Director |
|
|
Full Name |
VINCENZO MORICI |
|
Birth Date |
|
|
Position Description |
Chairman of the board |
|
Address |
311 MOLIERELAAN |
|
Country |
-- |
|
Postal Code |
1180 |
|
Birth Date |
2011-01-01 |
|
Company Director |
|
|
Full Name |
MICHEL TCHAPIAN |
|
Birth Date |
|
|
Position Description |
Director |
|
Address |
9 ANDRE RYCKMANSLAAN |
|
Country |
-- |
|
Postal Code |
1180 |
|
Birth Date |
2011-01-01 |
|
Company Director |
|
|
Full Name |
WAYNE SMITH |
|
Birth Date |
|
|
Position Description |
Director |
|
Address |
33 WELLINGTONLAAN |
|
Country |
-- |
|
Postal Code |
1180 |
|
Birth Date |
2011-01-01 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.69 |
|
|
1 |
Rs.70.87 |
|
Euro |
1 |
Rs.62.26 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.